Mortgage Payment Calculator

Calculate your monthly mortgage payment instantly. Includes principal, interest, taxes, and insurance.

How to Use the Mortgage Calculator

Our mortgage calculator helps you estimate your monthly mortgage payment based on the home price, down payment, interest rate, and loan term. It includes property taxes, homeowner's insurance, and PMI (if applicable) to give you a complete picture of your housing costs.

Understanding Your Results

• Principal & Interest: The core loan payment that goes toward your home equity and lender interest.
• Property Tax: Annual property taxes divided into monthly payments, typically escrowed with your mortgage.
• Homeowner's Insurance: Required coverage that protects your home against damage and liability.
• PMI: Private Mortgage Insurance, required when your down payment is less than 20%. Typically 0.5-1% of the loan annually.

Tips to Lower Your Monthly Payment

• Increase your down payment to 20% or more to eliminate PMI
• Choose a longer loan term (30 years vs 15 years) for lower monthly payments
• Shop for the best interest rate — even 0.25% can save thousands over the life of your loan
• Consider an adjustable-rate mortgage (ARM) if you plan to sell or refinance within 5-7 years

Ready to Make It Real?

Get pre-qualified for your mortgage in just 60 seconds. Our AI finds you the best rate from 50+ lenders.